Corporate hospitality is a great way of building and maintaining positive relationships with all of your business clients. If you are a large business, organising these kinds of events can help you to reconnect with long-standing clients and you can also introduce them to any new members of your team. For smaller businesses, it can be a way to network with your current or potential clients.
However, these events can sometimes be a costly luxury for businesses. Using the company budget to entertain clients can start to mount up, but there are plenty of ways you can still benefit from corporate hospitality, without it eating into your budget.
The corporate hospitality experts, Team Tactics, have put together a list of ways that your business could save when organising one of these events. Find out how to save on your event and still be able to schmooze your business’ best clients.
Choosing an ‘All-Inclusive’ Package
Opting for an all-inclusive corporate hospitality package can vastly help with costs. Taking your clients to one of the UK’s many beer or food festivals can not only offer an entertaining evening out, but it keeps food and drink costs low.
You don’t have to worry about catering the event as all of your food and drink is included in your package price. Providing catering can often be a huge add on to costs, so including it will not only give you one less thing to worry about, but also save money in the long-run.
Nailing Down Numbers
It can be difficult to perfectly determine numbers, but the more accurate you are with the number of people attending, the more money you can save. Packages that require you to pay ‘per-table’ can be a great option if you are unsure how many people will definitely turn up. Alternatively booking out a space and self-catering can also be a great way to entertain clients without having to commit to numbers.
Set Aside an Allocated Budget
Setting aside an allocated budget, specifically to be used for corporate hospitality, can help make budgeting easier. Planning an annual get together with clients will also make it easier for clients to plan ahead, giving you a greater chance of a decent turnout of attendees.
Forward planning your corporate hospitality event will allow you more than enough time to shop around and find the best deals possible. Some events companies may also offer early bird discounts, so it is worth getting a few quotes in advance.
Stay Close to Home
Save money on travel by staying close to home. You’ll be able to cut the cost of getting your team and clients to your event, by keeping it close to your offices. Many of the larger cities, like London, will have plenty of corporate hospitality events to choose from, all run from your chosen city.
Your event should be an investment into your client relations, so making sure you come up with relevant corporate hospitality event ideas
is essential. Keep in mind the clients and team members you’d like to invite and what the best ways for them to interact would be. There are plenty of festivals, tours and music events that are all perfect for helping client and employees come together.